pecan theatre inc. owns and operates movie theaters throughout florida and georgia. pecan theatre has declared the following annual dividends over a six-year period: year 1, $80,000; year 2, $90,000; year 3, $150,000; year 4, $150,000; year 5, $160,000; and year 6, $180,000. during the entire period ended december 31 of each year, the outstanding stock of the company was composed of 250,000 shares of cumulative, preferred 2% stock, $20 par, and 500,000 shares of common stock, $15 par